09 Aug 2024

HCL Technologies Rises on BSE with Acquisition Plans

HCL Technologies is trading at Rs. 1587.40, gaining 29.30 points or 1.88% from its previous close of Rs. 1558.10 on the BSE.

The stock opened at Rs. 1589.00, reaching a high of Rs. 1600.70 and a low of Rs. 1575.05. A total of 31,571 shares have been traded so far.

This BSE group 'A' stock, with a face value of Rs. 2, achieved a 52-week high of Rs. 1696.50 on February 23, 2024, and a 52-week low of Rs. 1125.10 on August 10, 2023. Over the past week, the stock’s high and low were Rs. 1614.75 and Rs. 1460.05, respectively. The company's market capitalization is currently Rs. 4,32,056.19 crore.

Promoters hold a 60.81% stake in the company, with institutions and non-institutions holding 34.24% and 4.95%, respectively.

HCL Technologies’ software division, HCLSoftware, plans to acquire Zeenea, a Paris-based innovator in data catalog and governance solutions. This acquisition aims to boost HCLSoftware's Data & Analytics business (Actian). The Actian Data Platform has seen significant growth in hybrid data management and integration. Incorporating metadata management, data catalog, and governance capabilities will enhance customer experience on the data platform.

Zeenea offers an intelligent data discovery platform supporting various metadata management applications, including data catalog, lineage, governance, compliance, and enterprise data marketplace. Powered by an adaptive knowledge graph, Zeenea helps organizations democratize data access and create a comprehensive view of their assets and their interrelations.

The acquisition is expected to be finalized by September 2024, costing EUR 24 million.

HCL Technologies is a global IT services leader, aiding enterprises worldwide in transforming their businesses through digital technology.